Health and life insurance is big business. Billions of pounds pass through the doors of the most successful firms each year. Despite the recession wiping out some of the smaller insurance firms as well as putting a dent in the armour of the bigger ones, this year suggest the world’s economic health is stabilising, returning to prime conditions for economic growth and expansion. So which insurance companies are the ‘ones to which’ in 2010?

Holding more than $2 trillion worth of life insurance, Prudential is one of world’s biggest insurance firms and set to get even bigger in 2010. Currently negotiating a takeover of AIG – Asia’s largest insurance firm – Prudential is looking to expand its operations from East to West, buying up companies as it goes.

BUPA may only do one thing – health insurance – but this doesn’t mean they aren’t a force to be reckoned with. British bred and over 60-years-old, BUPA recently set its sights on India and has since joined forces with Max; a local insurance provider. Given that just 2% of India sprawling population has health insurance, BUPA is looking to capitalise on an untapped customer base that could see BUPA’s profits go through the roof.

Out of all the giant insurance providers on the market today, Aviva healthcare is perhaps the one to watch most closely. The healthcare arm of Norwich Union, Aviva is the world’s fifth largest insurer and recently turned down an offer to buy a large share in Prudential in favour of pursuing developments in the Middle East.

Whatever the outcome for these three giant insurers, 2010’s economic recovery is set to become one of the most interesting comeback competitions to date. For shareholders, now could be the time to invest as each of these companies plans a high profile global expansion that could end up paying dividends not too far into the future.